
Wednesday, October 14, 2009
Intersection
Looking at the SPY weekly, the gap is nearly filled from last Sept/Oct and now there is an intersection of resistance just overhead with the %50 fibbo, major downtrend line and the near term fibbo fan intersecting near 112.50. Will this be enough to create a near term top or do we break to the %61.8 fibbo level where the weekly 200ma is hovering?


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